You can split your RAM between your virtual machine and Mac OSX. Why and how would you be planning to split your VRAM? That just does not make any sense.
Really? Because I can set the value of my VRAM on my MacBookPro 13" (Mid 2010) for every VM in the VM-Configuration (Parallels 6: Hardware -> Configuration -> Graphic). So I assumed, I can do the same with the iMac. Or can I just split my VRAM on my MacBookPro because it is shared RAM?